The central bank and eight other departments: Support the exploration and promotion of the pilot program for cross-border payment of digital renminbi between the mainland and Singapore

According to Jinshi Data, the People's Bank of China and eight other departments issued the "Opinions on Financial Support for Accelerating the Construction of the New Land-Sea Corridor in the West." The "Opinions" propose to explore international cooperation in digital finance.

Support provinces (regions, municipalities) along the route to participate in the multilateral central bank digital currency bridge project, promoting the use of central bank digital currencies for cross-border payments with Thailand, Hong Kong, the UAE, Saudi Arabia, and others. Support the exploration of a pilot program for cross-border payments using digital renminbi between the mainland and Singapore. Support provinces (regions, municipalities) along the route with conditions to build cross-border e-commerce digital service platforms, connecting with cross-border e-commerce and trade digital platform companies in countries like Singapore to enhance cross-border e-commerce service capabilities.